Dwindling reserves put focus on future outlays
Published: 24 July, 2009, 12:31
Russia has spent a third of its Reserve Fund covering the budget deficit and it’s planning to spend the same amount again in the third quarter.
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Russia's steel sector will seek Lower taxes, debt financing and a domestic demand boost from Prime Minister Putin at Friday's meeting in Magnitogorsk.
After Russia’s Central Bank cut its refinancing rate to 11 %, Prime Minister Vladimir Putin believes Russian banks should be able to lend at 14 %.
Russian grain producer, Pava, has posted a FY 2008 Net Profit of 22.7 million Roubles under IFRS.
12.06.2010, 10:51
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Higher than expected oil prices have allowed Russia to cover this year's budget deficit, while boosting social spending. That's while neighbouring countries are doing the opposite.
Tuesday’s meeting of Senior Finance Ministry officials reviewed results of 2008 and plans for the coming years, with anti crisis measures in focus.
President Medvedev's cabinet will discuss raising taxes on cigarettes, fuel and alcohol on Monday, in a move to cover the budget deficit.
Presenting a report to the State Duma, Prime Minister Putin said the country avoided the worst pitfalls of the past and that sustainable growth was returning, after $100 billion in anti-crisis spending.
11.08.2009, 20:17
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2Q data showed Russia's economy is contracting rapidly - while other emerging markets are recovering. The President says its time to change the economic structure, while analysts look for more infrastructure spending.
16.04.2009, 09:21
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Russia will spend an additional $13 billion to rebuild its roads as a way to get out of the financial crisis. It's an idea used during the Great Depression by the US and also resembles China’s current stimulus package.
23.09.2009, 15:26
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Russia will raise pensions by 46% next year, as part of a boost in government spending. Prime Minister Vladimir Putin announced the move at a cabinet meeting on Wednesday.
Published: 24 July, 2009, 12:31
Russia has spent a third of its Reserve Fund covering the budget deficit and it’s planning to spend the same amount again in the third quarter.